SBI Mutual Fund, India's largest mutual fund house, has launched the SBI Innovative Opportunities Fund. This new open-ended equity scheme focuses on investing in companies that benefit from innovative strategies and themes.
The fund seeks long-term capital appreciation, but there is no guarantee of achieving this objective.
The benchmark for the fund is the Nifty 500 TRI.
The New Fund Offer (NFO) period for the SBI Innovative Opportunities Fund runs until August 12, 2024.
Shamsher Singh, Managing Director & CEO of SBI Funds Management, highlighted India's position as a fast-growing economy where innovation is central to development.
He pointed to government initiatives like Startup India and the Atal Innovation Mission as key drivers of this innovation culture.
Singh emphasised that the fund provides an opportunity for investors to back companies leveraging innovation to gain a competitive edge.
The fund plans to invest 80-100% of its assets in equity and equity-related instruments of companies focused on innovation.
It will also allocate 0-20% in equity and equity-related instruments of other companies, 0-20% in debt and money market instruments, and 0-10% in REITs and InvITs.
Investments in foreign securities may constitute up to 35% of the net assets.
Fund Managers for the SBI Innovative Opportunities Fund are Prasad Padala and Pradeep Kesavan, who will handle overseas securities.
Investors interested in the SBI Innovative Opportunities Fund can consider participating before the NFO period ends on August 12, 2024.
D P Singh, Deputy MD & Joint CEO of SBI Funds Management, said innovation has significantly disrupted various sectors, including technology, healthcare, and e-commerce.
He believes India is well-positioned as a global leader in tech adoption and digital transformation.
Singh sees the SBI Innovative Opportunities Fund as a chance for investors to tap into this innovation-driven growth.
The fund seeks long-term capital appreciation, but there is no guarantee of achieving this objective.
The benchmark for the fund is the Nifty 500 TRI.
The New Fund Offer (NFO) period for the SBI Innovative Opportunities Fund runs until August 12, 2024.
Shamsher Singh, Managing Director & CEO of SBI Funds Management, highlighted India's position as a fast-growing economy where innovation is central to development.
He pointed to government initiatives like Startup India and the Atal Innovation Mission as key drivers of this innovation culture.
Singh emphasised that the fund provides an opportunity for investors to back companies leveraging innovation to gain a competitive edge.
The fund plans to invest 80-100% of its assets in equity and equity-related instruments of companies focused on innovation.
It will also allocate 0-20% in equity and equity-related instruments of other companies, 0-20% in debt and money market instruments, and 0-10% in REITs and InvITs.
Investments in foreign securities may constitute up to 35% of the net assets.
Fund Managers for the SBI Innovative Opportunities Fund are Prasad Padala and Pradeep Kesavan, who will handle overseas securities.
Investors interested in the SBI Innovative Opportunities Fund can consider participating before the NFO period ends on August 12, 2024.
D P Singh, Deputy MD & Joint CEO of SBI Funds Management, said innovation has significantly disrupted various sectors, including technology, healthcare, and e-commerce.
He believes India is well-positioned as a global leader in tech adoption and digital transformation.
Singh sees the SBI Innovative Opportunities Fund as a chance for investors to tap into this innovation-driven growth.
(Edited by : Amrita)
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